Female Forex Traders Network II

[quote=babyleaps;2999113]Sheesh, riding the EU today for scalping...been BUSY/quote]
i got no charts, but i shorted eur$ almost 4hrs ago (1 reason is Bollinger band squeeze with bearish bias, ak4x et al i think are into Bolli's), at 1.4348 area. traded while getting intermittent internet-disconnections lol



there were posts about this issue on the VSA thread.
I have a live non-MT4 account, but i base my analysis on demo MT4s. i make VSA analyses (i slowly incorporate VSA) on these MT4 demo's. it (MT4 volume) may not be accurate/reliable, but to me it's a start (until the time i get a reliable independent price feed source)

good trade now short EU 1H

I'm just scalping EU in the range (but I have one order still sitting out there, wandering around, ticking me off.....). Getting tired of my chart looking like smoke drifting sideways, but enjoying making some pips from little movement, too.


Off to play this weekend! MAMA'S WEEKEND OFF --whoo hoo!

Good call! Happy now that my wandering order has closed in TP.

Well I was hanging with the boys over on the AUD thread on Friday. Nice, friendly, helpful bunch of chaps over there. I posted this stuff over there but I thought I may as well post it over here as well.

Where's all the ladies then???? C'mon ladies, let's get some trading ideas posted so we can get some discussion going. Can't have Tanya talking to herself now can we (ha, ha - just a joke Tanya )

Don't forget it's end-of-month and Bank Holiday over here in the UK on Monday so liquidity might be a bit thin and huge moves could result. Or it could be really damn boring.

SSI: Retail Range Convictions Growing to Extremes as Likelihood of a Dollar Break Grows
Friday, 28 August 2009 17:37:34 GMT
Written by John Kicklighter, Currency Strategist



Intraday Highlight:

NZDUSD - The ratio of long to short positions in the NZDUSD stands at 2.06 as nearly 67% of traders are long. Yesterday, the ratio was at -1.39 as 58% of open positions were short. In detail, long positions are 188.0% higher than yesterday and 154.5% stronger since last week. Short positions are 0.4% higher than yesterday and 16.7% stronger since last week. Open interest is 78.8% stronger than yesterday and 75.4% above its monthly average. The SSI is a contrarian indicator and signals more NZDUSD losses.

What's up with this NZD bullishness? Unbelievable. And can somebody give the SNB a nudge and tell them that the retail forex world is waiting for them to intervene - lol

Well, we couldn't successfully break and hold under the 77.98 level on the USDX chart today (again) and we are back to the oh, so, familiar 78.30 level (again). Boring ....

Okay, I'll just talk to myself - lol - it's not the first time Just some bedtime reading/funnymentals.

2009 bank-failure tally rises to 84 - Aug 29, 2009, 10:42 a.m. EST

SAN FRANCISCO (MarketWatch) -- Three more banks were closed by regulators Friday, bringing the 2009 toll to 84.

The largest of Friday's three closures announced by the Federal Deposit Insurance Corp. was Affinity Bank, based in Ventura, Calif.

To read further: http://www.marketwatch.com/story/mar...28?siteid=bnbh


Could We Have Another 1987-Like Crash in the Not Too Distant Future?
by Chris Puplava | August 28, 2009

There are many market participants out there whose nerves appear to be pricking up lately as we approach the two worst months of the year, more so given the fact that the S&P 500 has risen more than 50% from the March lows and is overdue for a correction. Last year should have made the point that in terms of the financial markets, anything and everything is possible as we appeared to be on the brink of a systemic collapse. However, while anything is possible, how likely is another 1987-like sell off in the weeks ahead, or even a sell off similar to the 1998 Asian Currency Crisis?

To read further: http://www.financialsense.com/Market/wrapup.htm


The Devil We Know
by Peter Schiff, Euro Pacific Capital | August 26, 2009

Ayn Rand wrote, "when you see corruption being rewarded and honesty becoming a self-sacrifice - you may know that your society is doomed."

America is not doomed, but the fellows in Washington are pushing for that outcome. It seems that all the characters that encouraged this financial crisis are being rewarded, and Ben Bernanke's re-nomination is no exception to this rule. He was on the Board of Governors when Alan Greenspan grew our bubble economy. Known as 'Helicopter Ben,' Bernanke was the most vocal supporter of low interest rates to combat the bogus threat of deflation, even if it meant dropping cash from helicopters. He succeeded in his aim – as it is hard for prices to decline while the money supply is growing by double digits.

To read further: http://www.financialsense.com/fsu/ed...2009/0826.html


The Daily Reckoning – Making a bad situation worse
By Bill Bonner - Friday, 28 August 2009

Our story continues...

According to the popular version, Ben Bernanke, our flawed hero, has averted a Second Great Depression. When the crisis came in ’07-’08, he calmly took out the text he had written himself: “Dummies’ Guide to Avoiding a Japan-style Deflation”... or something like that.

Then, he followed his own theory... coolly... confidently... cutting Fed rates down to nearly zero, pushing Congress to pass a huge ‘stimulus’ bill, and even forcing Bank of America to take over Merrill Lynch. In this last event, he is accused of deliberately hiding Merrill’s enormous losses and then threatening the BofA board with dismissal if they refused.

Because of Bernanke’s swift and assertive action, the nation’s banking system held together during those critical weeks of late-2008. And because of his monetary (and fiscal) policies, all the worlds’ economies are now in some stage of recovery. Stocks are rising. House sales are increasing. All the indicators point to a better world.

In recognition of the fact that he saved the world, Ben Bernanke was given the nation’s highest honour; Obama picked him to continue as head of America’s central bank, the Federal Reserve... even though he was appointed by his predecessor, a Republican.

To read further: http://www.fleetstreetinvest.co.uk/d...yReckoningLink

Thanks for that Patience some interesting reading there.This bounce somehow seems so contrived but time will tell!

Yey! Got a response - ha, ha. Not much fun talking to myself

I don't know, all I read these days is about the impending crash of the indices. When it happens, it won't be a surprise then.

But now that they've implemented that short selling ban permanently in the US I am assuming that the expected crash won't be as bad as the last time. But that's just my uneducated guess - nobody has provided me with a definitive answer. And just to add to this bearish bias all over the internet, here's a couple more articles.

Stock Market Rally Engineered by the Government

Bob Chapman writes: Since March we have watched a stock market rally borne by low volume and short covering. The gains are reminiscent of the rallies of 1930 and 1932. What you are witnessing is a rally engineered by our government. If you watch the tape and you can read it you can see exactly what they are doing, and how they are doing it. Yes, it is legal under an Executive Order singed by President Ronald Reagan in the aftermath of the October 19th, 1997 collapse of the stock market. It was named the “Working Group on Financial Markets” and was to be used for such emergencies. Unfortunately, like many things in government, the mission of the “Plunge Protection Team” has been distorted. For over the last more than ten years it has been used to manipulate markets 24/7. Thus, what you are witnessing is a sucker rally, which has little hope of lasting.

To read further: http://www.marketoracle.co.uk/Article13044.html


What Can Stop This Stock Market Rally?

You hear a lot of talk these days about what could possibly stop the current stock market rally given that we've clearly passed the "acute" phase of the financial crisis and, quite literally, there is no place to go but up for many economic indicators.

The term "statistical recovery" is bandied about quite a bit by doubters of the recent move up for equities and for many very good reasons such as the following:

• home prices seem to be going up when they're probably really still going down
• consumers have dramatically cut back on their spending but no one seems to care
• current quarter GDP will print at +2 or +3 percent but it is completely unsustainable
• bank balance sheets appear healthy when they are really still loaded with bad loans

But, none of this really seems to matter when you have a chart that looks like this.

To read further: http://www.marketoracle.co.uk/Article13058.html

Add to the above list:
Real US unemployment rate at 16 pct: Fed official

Patience I do that a lot .. talking to myself

what will happen to this stock (axp) next week?
>

Great tread congratulations, awesome read very educative, and well guarded by the knights of FF, way to go babylips

Great thread. I'll drop by every now and then. This might help me convince my wife to do a little trading. Smile.

Although she assures me that she's not up to it. lol.

my fan chart (gj) .. my channel chart (ga)

>

Back from camping, and in between unpacking the trailer and getting dinner going, checking in. (Patience, hoisted a margarita or two in honor of you and your recent events). Haven't gotten to looking at charts yet, but after seeing more about the Edgetrader debacle, just have to comment....

Why are there so many self-appointed gurus, fakes, and posers in Forex? In the just over a year that I've been involved in Forex, I have repeatedly seen self-important snake-oil salesman being exposed as liars, cheats, and losers. If they're eventual goal is to sell something, it makes sense, but it seems like some people are in it just for the ego strokes.

Weren't they breastfed enough as a child? How do you find someone to trust when they say they've improved their technique and want to share the knowledge? Are idiots and losers like this dooming us to just read books and consider most posters as posers? I believe in taking much of what I read on the internet with a grain of salt, but this keeps up and I'm going to get salt poisoning...

Sheesh, maybe I need another margarita (sans salt). I'm getting cynical and pissy....

Tanya ( a real person)

Thanks for the reminder--I've gotten bitten by Month End before....
(don't think I'll have much time to trade tomorrow anyway....)

Chartwise... yellow and red bars are the no brainer support levels to watch along with my opening pivots for sunday nite US time.

I'm watching the huge governmental change in Japan to see how that sorts out this week and beyond, Yen wise, looking for any saber rattling re: Israel leading up to the UN session in mid Sept and closely watching for any change in US posture regarding all the usual sticking points in it's support of Israel and the rest of mideast politics, ((...using the word politics loosely)) that may affect risk appetite.

If there's a run to safe haven for any reason at all, and 'cracks' start appearing in the status of the USD for that purpose, then I'll maybe have another piece of a Puzzle I'm pondering.

Hat firmly glued on head the next 3 weeks... starting now.

Can you say sucker rally?

S&P 500 Over Priced: With 97% of Companies Reporting Q2 Earnings the PE Ratio is Now at 129. The Most Over Hyped Market Rally Ever.

closed. another gain... eheh
just a lucky month

Commodities under pressure on fears of Chinese defaults
By Jamie Coleman || August 31, 2009 at 12:06 GMT

Looks like that Chinese miracle may in fact be a mirage. Chinese state owned enterprises may terminate commodities contracts because of massive losses in financial derivatives, Caijing reports.

This raises a number of issues. First, the news will continue to pressure commodity and commodity currencies like AUD and CAD. It will also pressure investment banks that have Chinese counterparts. It may explain why some firms are so bullish on China, trying to prop up the economy with hot air so they can get the heck out. Sound familiar?

Looks like a risk-off day as the S&P loses 0.75% in futures trade.

Big focus on month-end fixing

When US shares rally during the month, passive investors like index funds need to sell the dollars accrued by the increase in market capitalization. This is typically done once a month at the late-London fixing at 15:00 GMT.

Demand is said to be heavy for currencies across the board, so dollar strength resulting from risk aversion may be offset by fixing flows later in the session.

http://www.forexlive.com/category/rumors


SSI: USDJPY Ratio at Bullish Extremes as Retail Traders Eye Retracement
Monday, 31 August 2009 09:41:42 GMT
Written by David Song, Currency Analyst

FXCM Speculative Sentiment Index (SSI) Statistics:

Attached Image (click to enlarge)

Intraday Highlight:

USDJPY - The ratio of long to short positions in the USDJPY stands at 3.46 as nearly 78% of traders are long. Yesterday, the ratio was at 3.22 as 76% of open positions were long. In detail, long positions are 12.8% higher than yesterday and 35.0% stronger since last week. Short positions are 5.1% higher than yesterday and 13.7% weaker since last week. Open interest is 11.0% stronger than yesterday and 23.3% above its monthly average. The SSI is a contrarian indicator and signals more USDJPY losses.

Well there's a nice big bearish 4 hour candle on the USDX now and it's back below the 78.30 level. Each retracement is getting weaker and weaker. Not quite sure what to make of all this because of month-end.

Gold, crude and indices are down yet the US$ is still taking a hit. A little worrisome for those of you who hold US$ denominated trading accounts (I have one). I'm going to put it all down to month-end fixing at this stage. If it's not fixing, then the US$ is really, really in the dog house.